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New Relic shuts down Seattle office, moves employees to Portland: http://www.geekwire.com/2016/new-relic-shuts-seattle-office-...
New Relic Stock is 22.23% down: http://finance.yahoo.com/echarts?s=NEWR+Interactive#{"range"...
Sold 39,000 shares, leaving him with 376.
Earnings were reported yesterday (Thursday) but were better than estimates.
New Relic got stuck trying to provide mainstream analytics in a world where analytics solutions must be highly tailored to the applications they are responsible for providing insights into.
I think it could be that he is able to see what is about to happen to the tech market (well, is starting to happen already).
Maybe he needs to cover his short positions, maybe he wants to buy a house. This represents 0.1% of the company. Although an insider sale is never a bullish signal, there can be lots of good reasons why someone might sell, including a greater need for diversification.
Sell whatever you own if any. Advice from someone thats been around.